Rise in home loan approvals
29 January 2010
According to figures from the British Bankers` Association (BBA), the number of home loans approved for house purchase increased at the end of 2009, the BBC reports.
Figures show that 45,897 loans for house purchase were approved in December - which was double December 2008`s figure.
However, the annual figure for home loan approvals in 2009 was 27% lower than the year earlier; it was also the lowest since the BBA began recording the data in 1997.
Meanwhile, gross mortgage lending by the high street banks increased from £9.6bn in November to £10.2bn in December - which was 12.5% higher than a year earlier and, as the BBC reports, was "boosted - according to the British Bankers` Association (BBA) - by borrowers bringing loans forward before the stamp duty holiday came to an end".
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Tags: loans, mortgages, mortgage approvals
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